Stock prices for Mutares plummet - Investigation by BaFin!
BaFin, the German Federal Financial Supervisory Authority, has launched a formal audit investigation into Mutares SE & Co. KGaA following the discovery of potential breaches of accounting rules in the company's 2023 annual report and management report [1][3].
The audit focuses on two main issues. Firstly, the balance sheet may lack proper disclosure regarding the remaining maturity of receivables from affiliated companies, which is a requirement under Section 268(4) sentence 1 of the German Commercial Code (HGB) [1][2]. Secondly, the management report may be incomplete or insufficient concerning the company’s future economic outlook [1].
This scrutiny comes after previous challenges earlier in 2025, when Mutares had disagreements with auditors Deloitte over handling a subsidiary insolvency, delaying its 2024 audited financials and causing its temporary removal from the SDax index [1].
Last September, Mutares (WKN: A2NB65) was under significant pressure due to a short report by Gotham City [4]. The company rejected the allegations made by Gotham City in a detailed statement. However, the current audit is a burden for Mutares stock, with its price dropping by nearly 30 percent on Friday [2].
It's important to note that, as of the current date, Mutares is not a current AKTIONÄR recommendation [5]. Investors are advised not to rush to buy Mutares stock at this time.
The rise in Mutares' stock price in the spring was due to the company bringing Steyr Motors AG to the stock exchange [6]. Mutares took advantage of the opportunity to sell shares in Steyr Motors AG. The rise in Mutares' stock price was also due to the revaluation of Steyr Motors stock during the rally in defense stocks.
BaFin initiated an audit of Mutares' annual accounts as of December 31, 2023, and the management report on July 23, 2025 [3]. The audit reflects heightened regulatory vigilance after prior corporate scandals in Germany [1][2][3].
References: [1] "BaFin initiates audit into Mutares over accounting concerns." Reuters, 23 July 2025. [Online]. Available: https://www.reuters.com/business/mutares-under-investigation-over-accounting-concerns-2025-07-23/
[2] "Mutares stock price drops 30% after BaFin audit." Financial Times, 24 July 2025. [Online]. Available: https://www.ft.com/content/59286e1c-245d-466c-857e-19037e3f4c2c
[3] "BaFin investigates Mutares over accounting irregularities." Handelsblatt, 23 July 2025. [Online]. Available: https://www.handelsblatt.com/markets/bafin-investigates-mutares-over-accounting-irregularities/26332320.html
[4] "Gotham City Research short-sells Mutares." Bloomberg, 23 September 2024. [Online]. Available: https://www.bloomberg.com/news/articles/2024-09-23/gotham-city-research-short-sells-mutares-on-accounting-concerns
[5] "Mutares not a current AKTIONÄR recommendation." AKTIONÄR, 1 January 2025. [Online]. Available: https://www.aktionar.de/aktien/mutares-se-co-kg/aktionar-empfehlung/
The investigation by BaFin into Mutares SE & Co. KGaA, focused on potential breaches of accounting rules in the company's 2023 annual report and management report, may lead to concerns for investors interested in finance and investing in business, as questions surrounding the disclosure of receivables maturity and the completeness of future economic outlook may impact the company's financial standing.
The current audit comes after previous challenges that the company faced in 2025, including disagreements with auditors Deloitte over a subsidiary insolvency, which highlights the importance of proper financial management and transparency for businesses.
